Some charities named as partners on the Matheson Foundation website have distanced themselves following reports that it owns a number of “vulture funds” for tax purposes.

In a statement, a spokesperson for Matheson said: “Matheson, through our Foundation, has a long record in supporting charities, both in donations and through the efforts of our staff. Many Irish charities have benefitted from these efforts over the years, including those referred to on our website.

“The Foundation is not a ‘vulture fund’. However, we recognise that confusion now exists with respect to the status and activities of the Foundation. This is in no one’s interest, least of all those worthy causes we support. We are conducting a review of the Foundation to address this confusion. We remain fully committed to supporting worthy causes and will continue to do so.”